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Aker BP Reports Lower Q1 Oil, Gas Production; Maintains 2026 Outlook

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Aker BP reported Q1 earnings Thursday, showing net petroleum production of 398,400 barrels of oil equivalent per day, down from 441,400 boe/d a year earlier.

The company reported producing liquids volumes of 31 mmboe for the quarter ended March 31, down from 34 mmboe a year earlier.

Total gas volumes produced fell to 4.8 mmboe for the quarter, down from 5.7 mmboe a year earlier.

Aker posted net sold volumes of 405,700 barrels of oil equivalent per day in the quarter, down from 457,600 boe/d a year earlier.

The company reported liquids sales volumes of 352,200 boe/d, compared with 394,000 boe/d a year earlier, while natural gas sales volumes declined to 53,400 boe/d from 63,500 mboe/d.

Total liquids sales volumes for the quarter were 31.7 mmboe in the first quarter, down from 35.5 mmboe a year earlier, while gas sales volumes declined to 4.8 mmboe from 5.7 mmboe.

Aker BP maintained its 2026 production guidance at 370,000 boe/d to 400,000 boe/d and kept planned capital expenditure at $6.2 billion $6.7 billion.

The company started oil production at the Symra project on April 3, nine months ahead of the original schedule.

Aker BP accelerated the Skarv Satellites project start-up to the third quarter of 2026 after completing major subsea installations during the quarter.

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Aker BP Reports Lower Q1 Oil, Gas Production; Maintains 2026 Outlook | FINWIRES